You can be on Entrepreneur’s cover!

Luck and entrepreneurship: Is there a connection? Success can be attributed to being lucky by starting the right business at the right time.

By Ashok Kularia

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Luck does play a role in business, but when you start talking about luck in entrepreneurship, you can never attribute too much credit for success to the fortune's wheel.

When a person becomes an entrepreneur by deciding to start a business, he is acting on an opportunity that he believes will satisfy a need for both consumers (a product or service) and themselves (independence, wealth, fame).

Success can be attributed to being lucky by starting the right business at the right time. However, the owner would not start a business if he/she didn't believe an opportunity to create something profitable isn't there. That's not luck, it's common sense, you Smart Alecs!

Luck means that a variable is random and the outcome just happens to be positive purely by chance. Successful entrepreneurs aren't successful because they rolled dice but because they took a lot of careful and calculated decisions, and had enough motivation to take action at a point in time.

They saw opportunity, the chance to be and decided to go for it given they had the skills to make it happen. One is not successful because lady luck smiles on them, one's business booms because one is opportunistic at the right time.

Most failed businesses flop because the owner was opportunistic at the wrong time or in the wrong place. Entrepreneurs write their own destiny by making choices that lead to actions and those who make the right choices at the right time earn their successes.

For most entrepreneurs, it's a combination of working your tail off, being in the right place at the right time, by having the guts to approach highly ranked people in the industry, and/or by taking advantage of available contests and grants.

And that phrase – "you'll never know what you can do if you don't try" should be (it probably already is) a part of every entrepreneur's vocabulary.

Most successful entrepreneurs have three things in common.

1) spotting a market by either being in the right place at the right time or just by hard work and making sure they are well informed on many different markets and seeing possible trends and opportunities.

2) having a risk personality so that they are more likely to seize that opportunity and

3) having the skills to manage that opportunity with regards to putting in place the finance and marketing. With a strong focus to achieve their goals, they make sure it happens despite any pitfalls along the way.

The old saying -- the harder you work, the luckier you get -- is indeed very appropriate.

Ashok Kularia

Managing Director, ANJ Turnkey Projects Pvt. Ltd.

News and Trends

Digital Lending Platform RupeeRedee's NBFC arm FincFriends Secures USD 7.8 Mn Led by InCred Finance and Grow Money Capital

The Gurugram-based platform aims to deploy the fresh funds for its expansion and product portfolio. A portion of the funds will also be used to "amplify" the NBFC's credit portfolio, increase its customer base, and expand operations into emerging countries.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

With the recent developments in AI and the popularity of ChatGPT, you may want to integrate AI into your marketing practices. Find out how.


5 Ways ChatGPT Will Impact Digital Marketing

ChatGPT is creating ripples across the digital landscape right now. Here are five ways it can benefit your ads, campaigns and marketing strategies.

Business Solutions

Visualize Data for Better Business: MS Visio is $23.99 Through April 16

Set your team up for success with a reliable tool for creating organizational charts, diagrams, and more.

Science & Technology

These Are the Top 6 AI Threats to Your Business Right Now

The modern workforce is forever changed by artificial intelligence. If you fail to understand that we will all need to learn AI to some degree, you haven't been paying attention.